Haven

Origin of Relationship

Haven was a joint healthcare venture announced in 2018 between Berkshire Hathaway (Warren Buffett), Amazon (Jeff Bezos), and JPMorgan Chase (Jamie Dimon). The goal was to tackle the rising costs of healthcare for their US employees.

Major Milestones

• 2018: The partnership is announced. Buffett discusses it extensively at the Annual Meeting, describing healthcare costs as a "tapeworm" on the American economy. Todd Combs is appointed as the CEO to lead the venture.
• 2021: The venture is dissolved. Buffett acknowledges during the 2021 Annual Meeting that changing a system representing 18% of GDP proved too difficult, stating essentially that "the tapeworm won."

Strategic Importance

Haven represents a rare instance of Berkshire Hathaway partnering with other corporate giants to attempt a systemic disruption of a major US industry. It highlights Buffett's macroeconomic concern that healthcare costs—which had grown from 5% to 18% of GDP—were a massive drag on American economic competitiveness globally.

🔗 Connections

• Concepts: Healthcare Tapeworm
• Companies: Amazon
• Sources: 2018 Meeting, 2021 Meeting